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Bitcoin Cash (BCH)

What is Bitcoin Cash?​

Here are 5 key points about Bitcoin Cash (BCH):

  • Bitcoin Cash addresses Bitcoin's scalability issues by increasing the block size to 32 MB, enabling more transactions to be processed in each block.

  • Designed for everyday transactions, Bitcoin Cash offers minimal fees, making it suitable for microtransactions and global remittances.

  • Larger blocks and efficient processing allow Bitcoin Cash transactions to confirm quickly, enhancing usability for merchants and users.

  • Bitcoin Cash maintains a decentralized network using the proof-of-work (PoW) consensus mechanism to ensure robust security and resilience.

  • Supports advanced functionalities such as token protocols and smart contracts, broadening its use cases beyond peer-to-peer payments.

tip

Learn more about Bitcoin Cash by reading the Gem Wallet Learn article:
What Is The Bitcoin Cash Blockchain?

Bitcoin Cash on Gem Wallet​

Gem Wallet has full support for Bitcoin Cash. As soon as you setup a new Multi-coin wallet, you will get your own Bitcoin Cash address.

Gem Wallet can be used to:

  • Buy Bitcoin Cash (BCH) with fiat using debit/credit cards. (TBA)
  • Hold Bitcoin Cash securely.
  • Send and Receive Bitcoin Cash natively.

Bitcoin Cash on Gem WalletBitcoin Cash on Gem Wallet

How to Get Bitcoin Cash?​

Here are some ways to acquire some Bitcoin Cash:

  • Buy Bitcoin Cash (BCH) directly on the Gem Wallet app.(TBA)
  • Receive Bitcoin Cash with the unique Bitcoin Cash address on the Gem Wallet app.

Buying Bitcoin Cash with Gem Wallet Receive Bitcoin Cash with Gem Wallet

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  • Manually enable Bitcoin Cash by tapping on the Manage Token List.

Transaction Fees on the Bitcoin Cash Blockchain​

The fees on Bitcoin Cash are summarized as follows:

  • Bitcoin Cash is designed to keep transaction fees extremely low, often just a fraction of a cent, making it practical for both large and small payments, including microtransactions.
  • The larger block size of Bitcoin Cash helps prevent network congestion, ensuring that transaction fees remain low even during periods of high demand.
  • Low fees make Bitcoin Cash a viable option for international remittances and cross-border payments, providing a cost-effective alternative to traditional financial systems.

Bitcoin Cash Transaction Fees Bitcoin Cash Priority Fees

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Fees can be adjusted by tapping "Network Fee" and selecting your preferred option.

How to Check BCH Balance?​

Gem Wallet app connects to the BCH blockchain to show the BCH balance on your wallet. Tap on the 3 dots then tap on "View address on Blockchair". You can also view transaction details by tapping on it on the list, then tap on "View on Blockchair".

Bitcoin Cash Balance on Gem Wallet View Address on Blockchair

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Blockchair is the default BCH explorer of Gem Wallet. You can manually check balances and transactions by going to Blockchair and search for your BCH address.

Checking Bitcoin Cash Balance on Blockchair Checking Bitcoin Cash Transaction on Blockchair

Why Choose Gem Wallet for Bitcoin Cash?​

Gem Wallet provides a seamless and secure way to manage Bitcoin Cash with distinct advantages:

  • User-Friendly Interface: An intuitive design ensures ease of use for beginners and advanced users alike.

  • Enhanced Security: As a self-custody wallet, it ensures you have complete control over your private keys.

  • Multi-Currency Support: Manage not just Bitcoin Cash but also other cryptocurrencies within the same wallet.

  • Cross-Platform Availability: Access your wallet on multiple devices, ensuring flexibility and convenience.

  • Transparent and Open-Source: The wallet’s code is open for public review, enhancing trust and transparency.

Conclusion

Bitcoin Cash (BCH) offers a fast, low-cost solution for everyday cryptocurrency transactions. By integrating with Gem Wallet, users can leverage the benefits of Bitcoin Cash seamlessly, whether for personal or business use.